Form 4: Atlassian CEO Michael Cannon-Brookes Executes Stock Sales Under 10b5-1 Trading Plan

Atlassian CEO Michael Cannon-Brookes sold shares of Class A Common Stock on February 20, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp, executed multiple sales of Class A Common Stock on February 20, 2025.
• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 8, 2024.
• The transactions involved the disposal of shares held indirectly by the Cannon-Brookes Head Trust, with CBC Co Pty Limited as trustee.
• The sales occurred at varying prices throughout the day, ranging from $294.35 to $302.30 per share.
• A total of 8,148 shares were sold across multiple transactions.
• Following the reported transactions, the number of shares beneficially owned indirectly by the trust decreased.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by an insider under a pre-arranged trading plan. It's a neutral event and doesn't necessarily indicate positive or negative sentiment about the company's future prospects.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The sales do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Atlassian, Cannon-Brookes, Stock Sale, Rule 10b5-1, Beneficial Ownership, Form 4, TEAM